Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1695%/8h= −185.6% APRpaid last 24h −0.084%

Price spread now: MEXC against Hyperliquid+0.022%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.022%, 7d avg +0.041%

Together, before fees−0.158%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.041%, so right now this pair is about funding alone: −$51 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XMR	592.37	0.2121	pay 0.0265% / 1h	31m 55s	$89.8M	$72.6M	5x
Short	MEXC XMR_USDT	592.50	0.0426	get 0.0426% / 8h	7h 31m	$21.6M	$15.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee MEXCbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$355.96
Price spread: +0.022% → +0.041%: −$1.92
Slippage, 4 orders: −$35.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$406.31
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; MEXC: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 12 min ago	1.27 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.01 bp	13.5 bp −$14	31.0 bp −$310	55.4 bp −$5,538	199.7 bp −$99.9K

XMR on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0009%	1h	590.66	−0.288%	$45K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	596.76	+0.741%	$3K	$4K	12x	as long as short
dYdX XMR-USD	+0.0067%	1h	590.39	−0.335%	$107K	$50K	5x	as long as short
edgeX XMRUSDC	+0.0100%	4h	592.73	+0.061%	$1.1M	$661K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	591.20	−0.198%	$2K	$2.0M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	591.69	−0.115%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0184%	1h	591.81	−0.095%	$12K	—	3x	as long as short
MEXC XMR_USDTshort	+0.0426%	8h	592.50	+0.022%	$21.6M	$15.2M	100x
Binance XMRUSDT	+0.0426%	8h	592.44	+0.011%	$54.1M	$166.9M	75x	as long as short
Bitget XMRUSDT	+0.0532%	8h	592.50	+0.022%	$9.7M	$14.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XMR-USDT	+0.0608%	8h	591.42	−0.160%	$2.7M	$11.6M	75x	as long as short
Aster XMRUSDT	+0.0636%	8h	591.63	−0.125%	$656K	$2.5M	75x	as long as short
Kraken Futures PF_XMRUSD	+0.0644%	1h	590.72	−0.279%	$5.6M	$20.5M	50x	as long as short
Pacifica XMR	+0.0659%	1h	591.86	−0.086%	$278K	$1.1M	10x	as long as short
KuCoin XMRUSDTM	+0.0681%	8h	592.01	−0.061%	$48.6M	$26.0M	50x	as long as short
Variational Omni XMR	+0.0813%	8h	593.30	+0.158%	$6.8M	$2.6M	—	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0871% / S −0.2452%	1h	590.56	−0.305%	$549K	—	100x	as long as short
Gate XMR_USDT	+0.0893%	8h	591.79	−0.098%	$1.6M	$4.6M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0983%	1h	591.50	−0.147%	$201K	$526K	20x	as long as short
Orderly PERP_XMR_USDC	+0.1033%	8h	591.65	−0.122%	$42K	$738K	10x	as long as short
Paradex XMR-USD-PERP	+0.1193%	8h	591.45	−0.156%	$8K	$4K	20x	as long as short
Lighter XMR	+0.1240%	1h	591.77	−0.101%	$3.3M	$7.1M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1256%	8h	593.00	+0.106%	$350K	$804K	10x	as long as short
Polymarket Perps XMR-USD	+0.1284%	1h	591.75	−0.105%	$47K	$1.9M	5x	as long as short
Bybit XMRUSDT	+0.1396%	8h	592.99	+0.105%	$47.8M	$64.6M	75x	as long as short
BingX XMR-USDT	+0.1405%	8h	592.73	+0.061%	—	$5.8M	—	as long as short
Nado XMR-PERP	+0.1417%	1h	591.82	−0.093%	$1.3M	$467K	10x	as long as short
SoDEX XMR-USD	+0.1433%	1h	591.84	−0.089%	$450K	$3K	5x	as long as short
Hyperliquid XMRlong	+0.2121%	1h	592.37	long leg	$89.8M	$72.6M	5x
Extended XMR-USD	+0.2472%	1h	592.54	+0.028%	$3.2M	$7.9M	25x	as long as short
Aftermath Perps XMRUSD	+0.2587%	1h	591.85	−0.088%	$1K	$46K	10x	as long as short